JD Sports has been announced as the anchor tenant at Melbourne Walk, formerly the Walk Arcade, by Steadfast Capital. Handled by Colliers, the deal marks the largest retail leasing transaction in Melbourne’s CBD for 2024.
With a significant portion of the Bourke Street Mall frontage, JD Sports’ tenancy will span approximately 1,631 square metres of retail space across ground floor and level one of Melbourne Walk. The location is JD Sports’ second Melbourne CBD store and will be the retailer’s largest Australian flagship store.
JD Sports Australia and New Zealand chairman, Hilton Seskin said the company has enjoyed rapid growth in the Australian market, selecting strategic locations that connect it with a consumer base that shares its passion for the universal culture of sport, music and fashion.
“The announcement of our largest flagship store at Melbourne Walk reflects the confidence and momentum of our Australian expansion, positioning JD Sports further as the category market leader in the region,” he said.
“By securing a prime location in one of Melbourne’s most iconic retail hubs, Bourke Street Mall, we are tapping into the city’s vibrant, fashion-forward culture and growing demand for sports lifestyle product. We view this location as a key retail hub with strong potential for ongoing success and a prominent long-term presence.”
Since the opening of its first UK store in 1981, JD Sports now has over 4,500 stores across 36 countries, including 65 stores in Australia and five in New Zealand. The group recently opened its latest mega store at Highpoint shopping centre in Melbourne’s western suburbs.
“Building on our recent mega store opening at Highpoint, Melbourne Walk is consistent with our strategic approach, selecting locations with high consumer relevance and traffic. We wanted the best location for our next global flagship and Melbourne Walk presented the perfect opportunity,” Seskin said.
“We are excited to offer customers a tailored experience at Melbourne Walk, combining cutting-edge design with some of the most expansive and sophisticated brand partner spaces we’ve ever executed.”
Melbourne Walk now represents the first Bourke Street Mall redevelopment in 50 years. Steadfast Capital executive director, Teck-Lay Tay said attracting a premium tenant to Melbourne Walk presents a strategic opportunity for retailers to tap into the evolving landscape of Melbourne CBD.
“Advanced discussions are underway with complementary retailers across entertainment, fashion, and food and beverage sectors. We envision this vibrant tenancy mix will cater to a range of CBD residents and visitors including office workers, tourists and students,” he said.
Melbourne Walk’s total area will span over 37,000 square metres over three floors, including retail, two hotels, and a rooftop restaurant. The development will offer over 6,000 square metres of gross lettable area for retail (GLAR) and comprise approximately 35 tenancies.